Shares of Martin Midstream Partners (NASDAQ:MMLP) are moving above their 200-day moving average of $3.08

Shares of Martin Midstream Partners LP (NASDAQ:MMLP – Get Free Report )’s price moved above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.08 and traded as high as $3.56. Shares of Martin Midstream Partners last traded at $3.56 with a volume of 105,315 shares.

Analyst upgrades and downgrades

Separately, StockNews.com lowered Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Read the latest stock analysis on Martin Midstream Partners

Shares in Martin Midstream Partners rose 0.8%

The stock’s 50-day moving average is $3.58, and its two-hundred-day moving average is $3.08. The company has a market cap of $138.84 million, a PE ratio of 39.56 and a beta of 2.21.

Martin Midstream Partners (NASDAQ:MMLP – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $184.53 million during the quarter, compared to analysts’ expectations of $193.91 million. Martin Midstream Partners had a net margin of 0.90% and a negative return on equity of 10.46%. In the same quarter last year, the company earned $0.03 EPS. On average, sell-side analysts anticipate that Martin Midstream Partners LP will post 0.13 EPS for the current fiscal year.

Martin Midstream Partners announces dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a $0.005 dividend. This represents an annualized dividend of $0.02 and a dividend yield of 0.56%. The ex-dividend date was Wednesday, August 7. Martin Midstream Partners’ payout ratio is 22.22%.

Hedge Funds Influence Martin Midstream Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMLP. Victory Capital Management Inc. grew its position in shares of Martin Midstream Partners by 33.6% in the 4th quarter. Victory Capital Management Inc. now owns 29,793 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 7,500 shares in the last quarter. American National Bank purchased a new stake in Martin Midstream Partners in the first quarter valued at about $35,000. Acadian Asset Management LLC purchased a new stake in Martin Midstream Partners in the first quarter valued at about $50,000. Finally, Virtu Financial LLC acquired a new stake in Martin Midstream Partners in the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 34.90% of the company’s shares.

Martin Midstream Partners Company Profile

(Get a free report)

Martin Midstream Partners LP, together with its subsidiaries, provides completion, processing, storage and packaging services for petroleum products and by-products, primarily in the United States. The company operates in four segments: Terminals and Storage, Transportation, Sulfur Services and Specialty Products.

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